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Updated July 2024 With New Questions For The State Exam!


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These Practice Exams Have Been Specifically Designed For The 2024 California Salesperson Exam


What's Included:


All of our questions are current and explain why a certain answer is correct. These explainations are the key, "why an answer is correct". If you understand the "why", we can ask you the question ten different ways (and we will with over 2,000 questions) and you'll know the answer.


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Our State Exam Preparation System Involves Three Key Areas


Crash Courses
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Designed To Teach You Everything That You Need To Know To Pass The State Exam.

Practice Exams
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Learn How To Breakdown The Questions On The Exam & Test Your Level Of Readiness.

Refreshers
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There Is A Lot Of Information To Remember. These Are Designed To Refresh On All The Topics.



The Key To Passing The State Exam Is Understanding The Seven Topic Areas


Saturday's Free Key Points
Key Point's are important bulletpoints that relate to state exam topics.

Laws of Agency

All real estate brokers are required to carry workers compensation insurance, regardless of whether or not the licensee is an independent contractor for tax purposes.

Contracts

A counteroffer terminates the original offer. In other words, if the seller rejects an initial offer and issues a counteroffer that the buyer rejects, they cannot accept the original offer.

Financing

The seller remains liable in a Subject To loan takeover.

Practice & Disclosures

The date the parties sign the deposit agreement is the effective date.

Property Ownership

FHAs crawlspace requirement is 18 inches.

Transfer of Property

A grant deed is used to transfer a title. This should not be confused with a trust deed, which is used for financing and is a security device.

Valuation & Analysis

The maximum sales tax penalty for late filing is 35% if it is due to fraud or evasion.

Saturday's Free Practice Questions

Johnny just rented his home to Mike, who is disabled. Mike asked Johnny if he could add a ramp to the front entrance of the home. This ramp will require construction work and an alteration to the property. Mike has stated that he will pay for this alteration. In regards to this situation


A.) Johnny is not allowed to grant this request as it will alter the property
B.) Johnny is required to allow this alteration
C.) Mike cannot pay for this alteration as the property is not his
D.) None of the above


A
B
C
D

This Is A Practice & Disclosures Question


You Answered:


Johnny just rented his home to Mike, who is disabled. Mike asked Johnny if he could add a ramp to the front entrance of the home. This ramp will require construction work and an alteration to the property. Mike has stated that he will pay for this alteration. In regards to this situation


Correct Answer:
Johnny is required to allow this alteration

The Americans with Disabilities Act requires that that a homeowner permit, at a disabled tenants expense, reasonable modifications when necessary to accommodate a disability.



Next Question →

A listing (authorization to sell) generally


A.) Compels the owner to convey the property at the listed price
B.) Compels the broker to effect a sale of the property
C.) Authorizes the broker to find a buyer for the property
D.) Becomes a legally binding contract if signed by a buyer


A
B
C
D

This Is A Laws of Agency Question

You Answered:

A listing (authorization to sell) generally


Correct Answer:
Authorizes the broker to find a buyer for the property

A listing is an employment contract whereby the owner of the property employs the broker. It is not a promise to sell the property nor a promise to convey it if an offer is made at the listed price.



Next Question →

Complaints of discrimination under the Rumford Act must be filed with the Department of Fair Employment and Housing within


A.) 30 days of the alleged violation
B.) 60 days of the alleged violation
C.) 90 days of the alleged violation
D.) 180 days of the alleged violation


A
B
C
D

This Is A Practice & Disclosures Question

You Answered:

Complaints of discrimination under the Rumford Act must be filed with the Department of Fair Employment and Housing within


Correct Answer:
60 days of the alleged violation

The time given in the Rumford Act is 60 days



Next Question →

The most effective way for the Federal Reserve Board to create a tight money market would be to


A.) Sell government bonds
B.) Buy government bonds
C.) Raise the discount rate and sell government bonds
D.) Raise the discount rate and buy government bonds


A
B
C
D

This Is A Financing Question

You Answered:

The most effective way for the Federal Reserve Board to create a tight money market would be to


Correct Answer:
Raise the discount rate and sell government bonds

If the Federal Reserve Board raised the discount rate and sold government bonds it would be doing two things to draw money out of the marketplace and thus tighten the supply of money.



Next Question →

In regards to using a capital gains exemption on the sale of real property, which of the following would be allowed to use the exemption


A.) An owner who lived in a home for 1 year full time with a family of 4 and now the home is primarily used as a vacation rental
B.) A primary residence that has been lived in full time by the owners for the last year and a half without a break in residence
C.) An property that was just converted into an investment property that used to be a full time residence for the owner for the last 6 months
D.) A primary residence that was purchased on January 3rd 2019 and is was sold on March 1st 2021


A
B
C
D

This Is A Transfer of Property Question

You Answered:

In regards to using a capital gains exemption on the sale of real property, which of the following would be allowed to use the exemption


Correct Answer:
A primary residence that was purchased on January 3rd 2019 and is was sold on March 1st 2021

In order to use an exemption on capital gains the owner must have lived in the property full time for 2 years out of the last 5 years. This exemption can be used every 2 years as a way to avoid paying capital gains taxes. Of all the answers given, only D would not have to pay the capital gains tax.



Next Question →

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We Strongly Believe That Passing The State Exam Involves Two Key Areas:
· Understanding The Topics On The State Exam
· Recognizing These Topics In The Questions

Our Salesperson Specific Exams will reinforce topics by utilizing over 2,000 questions & our Broker Specific Exams feature over 3,000 questions!

Crash Courses: Designed to help you understand the topics on the state exam.

Practice Exams: Reinforce topics and make it easier to recognize them in questions.


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